• Nutrinor Cooperative operates six locations under a large Quebec based retailer
• Contract represents a potential C$650,000 in revenue for Danavation upon completion
• Initial installations to commence in early August 2023

Toronto, Ontario--(Newsfile Corp. - June 22, 2023) - Danavation Technologies Corp. (CSE: DVN) (OTCQB: DVNCF) ("Danavation" or the "Company"), the only North American-founded and headquartered technology company providing micro e-paper displays, is pleased to announce a full rollout of Danavation's Digital Smart Labels into all six Nutrinor hardware store locations operated under a large Quebec based retailer. The contract has an estimated revenue potential of approximately C$650,000 for Danavation, to be recognized once the full roll-out is completed. The first installation is expected to be completed by early August with subsequent stores being installed thereafter.

Recognized as one of Quebec's 300 largest companies by Les Affaires newspaper in May of 2023¹, Nutrinor Cooperative operates businesses within agrifood, agriculture, energy and hardware retail stores and is owned by more than 1,050 agricultural producers in the Saguenay-Lac-Saint-Jean region. Two of the Nutrinor stores to be outfitted currently utilize a competitor's electronic shelf labels that will be replaced by Danavation's Digital Smart Labels, providing strong validation for the Company's quality and innovative Platform-as-a-Service ("PaaS") solution. With a committed team of approximately 130 skilled employees, Nutrinor's hardware division stands as a pillar of the community, delivering valuable products, support and information to its customers.

"We're very pleased to secure a full rollout with Nutrinor in Quebec, demonstrating our continued progress in developing additional market share in the hardware segment while also showcasing a customer's switch to Danavation's Digital Smart Labels over legacy competitors," said John Ricci, CEO of Danavation. "We anticipate the Nutrinor locations can gain significant operational efficiencies and cost savings through the utilization of our solution by freeing up staff time to enhance the customer experience, eliminate inaccurate shelf pricing, and streamline operations - all of which can help drive an enhanced bottom line."

About Danavation

Danavation Technologies Corp. is the only North American-founded and headquartered technology company providing Digital Smart Labels and a software Platform-as-a-Service (PaaS) solution that enables companies across various sectors to automate labelling, price, product, and promotions in real-time. Danavation's Digital Smart Labels enhance data accuracy and improve performance by removing high labour costs and low productivity typically associated with traditional labour-intensive workflows. Our goal is to create a sustainable and profitable business for shareholders while advancing sound environmental, social and governance practices, including by significantly reducing paper usage. Danavation has introduced its solution to retailers across North America, including big box and boutique grocers, while also targeting new markets including healthcare providers, manufacturing, and logistics companies. Learn more about the background of Danavation and our vision for the future on our website. As well, follow us on LinkedIn, Instagram, Twitter and YouTube for more updates on how we are transforming the retail landscape.

For further information, please contact:

John Ricci
President & Chief Executive Officer
hello@danavation.com

Kyle Nazareth
Chief Financial Officer
Tel: 289-892-3974 | investors@danavation.com

Forward-Looking Information

This news release contains forward‐looking statements and forward‐looking information within the meaning of applicable securities laws. These statements relate to future events or future performance. All statements other than statements of historical fact may be forward‐looking statements or information. More particularly and without limitation, this news release contains forward‐looking statements and information relating, the future business of the Company, potential roll outs of the Company's products and services, further business from the Company's clients, industry outlook and potential and other matters. The forward‐looking statements and information are based on certain key expectations and assumptions made by management of the Company. Although management of the Company believes that the expectations and assumptions on which such forward-looking statements and information are based are reasonable, undue reliance should not be placed on the forward‐looking statements and information since no assurance can be given that they will prove to be correct.

Forward-looking statements and information are provided for the purpose of providing information about the current expectations and plans of management of the Company relating to the future. Readers are cautioned that reliance on such statements and information may not be appropriate for other purposes, such as making investment decisions. Since forward‐looking statements and information address future events and conditions, by their very nature they involve inherent risks and uncertainties. Actual results could differ materially from those currently anticipated due to a number of factors and risks. Accordingly, readers should not place undue reliance on the forward‐looking statements and information contained in this news release. Readers are cautioned that the foregoing list of factors is not exhaustive. The forward‐looking statements and information contained in this news release are made as of the date hereof and no undertaking is given to update publicly or revise any forward‐looking statements or information, whether as a result of new information, future events or otherwise, unless so required by applicable securities laws. The forward-looking statements or information contained in this news release are expressly qualified by this cautionary statement.

NEITHER THE CANADIAN SECURITIES EXCHANGE NOR ITS REGULATION SERVICES PROVIDER (AS THAT TERM IS DEFINED IN THE POLICIES OF THE CANADIAN SECURITIES EXCHANGE) ACCEPTS RESPONSIBILITY FOR THE ADEQUACY OR ACCURACY OF THIS RELEASE.

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